MUSCAT: In a groundbreaking move for the energy industry, the Oman LNG has officially inked a lucrative LNG sale and purchase agreement with Shell Trading Company (Middle East) yesterday in Muscat. The agreement outlines the supply of up to an impressive 1.6 million metric tonnes of LNG annually to Shell, with deliveries slated to commence in 2025 and extend over a remarkable 10-year period.
This significant step marks a pivotal moment in the ongoing collaboration between the two esteemed companies. Shell Trading Company stands out as the primary importer of energy from the Oman LNG Company, underscoring the robust partnership between the entities. The agreement underscores the Oman LNG Company's unwavering commitment to enhancing its commercial endeavours, thereby playing a crucial role in the global energy supply chain.
Hamed bin Mohammed al Naamany, CEO of the Oman LNG, expressed his satisfaction with the agreement, emphasising the pivotal role it plays in solidifying the partnership with Shell, a key player in the energy sector. The accord attests to Shell's trust in the Oman LNG Company as a premier LNG supplier, heralding new avenues for collaboration on the global stage.
Al Naamany highlighted that the agreement reinforces the Oman LNG Company's standing as a reliable LNG provider, renowned for its adept management of business operations to ensure a secure and sustainable energy supply to clients worldwide. Notably, this agreement builds upon previous collaborations, with Shell now holding the title of the largest shareholder in the Oman LNG Company.
Walid Hadi, Chairman of the Board of Directors of Shell in Oman, lauded the agreement as a significant boost to the company's LNG and integrated gas portfolio, reinforcing its capability to meet the escalating demand for flexible and dependable energy from its international clientele. The industrial complex of the Oman LNG Company in the Wilayat of Sur stands out for its operational efficiency, enabling an impressive production rate of 11.5 million metric tonnes annually of liquefied natural gas, mirroring the enhanced production capacity achieved by the company.
Together, this landmark agreement between the Oman LNG Company and Shell Trading Company signifies a strategic alliance poised to shape the global energy landscape positively, underpinned by mutual trust, innovation, and a shared commitment to sustainability and excellence in the energy sector. — ONA
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